The economic recovery is very well under way according to a slew of recently released data.
Economist Chris Varvardes of Macromedia Advisors, LLC, estimates the U.S fourth quarter Gross Domestic Product grew at 5.4% annually!
Overall Chistmas sales grew by 3.8%, a vast improvement over last year's numbers which FELL by 3.4%!
Various retailers reported their own stats. TJMaxx led the pack with same store sales rising a whopping 14%, while giants Ross, Nordstrom and Saks came in at 12%, 11% and 9.9% respectively! Only JCPenney and Abercrombie & Fitch both FELL by 3.8% and 19% respectively!
Even John Williams (http://www.shadowstats.com/) reports that some economic facts are improving, albeit from his accurately adjusted factors. He estimates the Payrolls FELL by 500,000 rather than as reported 85,000, but is a vast improvement over prior numbers he has computed.
Marko's Take? Things are looking up!
Thanks for reading.